Ah the old dodgy documentation at Irish banks. Loans that would be secured on the behalf of shareholders not being secured by, erm, 'mistakes' in the system and so on. Seem to have been a lot of such documentation mistakes especially to high profile borrowers in Ireland.
I'm sure the Gardai will examine whether this was systemic at least in Anglo's case as this area is one of a number identified in their current banking inquiry.
And will no doubt try to pull the wool by saying Irish bank loans departments were uniquely shyte at their job in all the western world. And carefully avoiding looking at the names involved and who was signing off on this loan documentation.
There is a very good case for Anglo and INBS shareholders to launch a court action for negligence or even malfeasance against the then directors and certainly corporate governance panels at those banks because someone somewhere in Irish banking and at these two banks in particular seemed to be making some extraordinary efforts to sabotage any cover the shareholders might have had in securing such loans against assets.
If I had been a shareholder there I'd certainly want to know who was involved in this apparently systemic loan paperwork failure and whether they were being paid to work against shareholder interests.